Srinagar, 24 July (H.S.): Chief Minister Omar Abdullah today reaffirmed the Government's unwavering commitment to strengthening Jammu and Kashmir's startup ecosystem, assuring young entrepreneurs of sustained support to transform innovative ideas into successful enterprises.

Addressing the ASCEND 2026 Startup Summit at SKICC, organised by the Jammu and Kashmir Entrepreneurship Development Institute (JKEDI), the Chief Minister described the two-day summit as a vibrant platform where ideas, innovation, investment, mentorship and Government policy converge to foster entrepreneurship and accelerate economic growth in Jammu and Kashmir.

Acknowledging that Governments are traditionally cautious about investing in ventures without guaranteed outcomes, the Chief Minister said that building a robust startup ecosystem requires a fundamental shift in approach.

If we fund 10 startups, possibly eight will not succeed. But the two that do succeed will more than make up for the eight that failed, he said.

Reiterating the Government's commitment, the Chief Minister said it was prepared to take that risk. We are not afraid to fail. The only thing we are afraid of is not putting enough support behind all of you, he said, adding that the Government would do everything possible to strengthen both the startup culture and the ecosystem that sustains it.

On the occasion, the Chief Minister distributed seed fund cheques of Rs 5 lakh each to seven startups to support their entrepreneurial ventures.

Highlighting the innovative spirit of Jammu and Kashmir's youth, the Chief Minister said he draws hope from the practical, ground-level solutions being developed by young entrepreneurs to address everyday challenges.

He cited innovations ranging from sensor-based systems that prevent water pipes from freezing during winter to digitally connected water-usage meters designed to curb wastage, as well as hailstorm protection nets, carbon monoxide detectors and automatic gas regulator shut-off devices.

ASCEND 2026 is about telling our youngsters that no idea is a bad idea. Every idea has potential; it simply needs refinement, the Chief Minister said, adding that promising concepts should be nurtured until they are ready to attract venture capital investment.

Noting that Jammu and Kashmir currently has around 1,300 to 1,400 registered startups, he expressed confidence that the number would double-and double again-by the time ASCEND 2027 is held.

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Hindusthan Samachar / Krishan Kumar